GCCs Based in India Can Provide Cost Savings of Up to 45% Over 3 to 5 Years, as per Nexdigm
Sep 13, 2020
With an increasing digital focus, over 75% of India-based Global Capability Centers (GCCs) are investing across analytics, cloud migration, and robotic process automation, and over 50% in artificial intelligence, machine learning, and Internet of Things (IoT) as discussed during Nexdigm’s webinar on ‘India – A Favorable Destination for Global Capability Centers’.
The webinar highlighted that 70% of India GCCs belong to US-headquartered companies, followed by 20% from Europe. The session showcased the potential of GCCs in India and highlighted how multinationals can leverage India’s sizable knowledge workforce to their advantage.
“Indo-US enjoys a comprehensive strategic partnership that cements cross-sectoral links between them. With current trade of ~USD 142 million, the countries have complementary strengths and capabilities that can make the combined vision of USD 500 billion trade a reality,” said Dr. T. V. Nagendra Prasad, Consul General of India, San Francisco.
Mr. Peter Bendor-Samuel, Founder & CEO, Everest Group, said, “India has executives who have a deep-root level of understanding and are capable of driving operations on their own. Backed with digital transformation, mature market conditions, and cost-saving business models along with an immense range of services and capabilities, GCCs have opened a gateway for not only global firms but also smaller players in India.”
The Indian GCC market size is ~USD 28.3 billion (2019), with over 1,750 centers and over one million employees. At present, ~50% of worldwide GCCs are in India. As per Nexdigm, GCCs could provide savings of up to 45% over an average time of three to five years.
“India provides minimal business risk for companies due to suitable policy-backing. Companies should not look at India as a makeshift set-up but as full-fledged business unit. The talent here has exceptional leadership capabilities, which enables companies to make a collaborative investment in nurturing and building up the right talent for future growth,” said Mr. Jerry Kinnick, President, Continuum Global Solutions.
The large educated talent pool, young demographics, along with established intra-country connectivity, and appropriate policy support have enabled India to maintain its leadership position in GCCs. India’s cost to value proposition is 3-4 times lower than the US. There has also been a ~250% increase in GCCs in India in the last 10 years.
The panelists were Rajiv Kumar, Joint Secretary, Ministry of Electronics & IT; Dr. T. V. Nagendra Prasad, Consul General of India, San Francisco; Peter Bendor-Samuel, Founder & CEO, Everest Group; Jerry Kinnick, President, Continuum Global Solutions; moderated by Marc Lessem, Senior Executive Director, and Alpana Shirgaonkar, Executive Director, Nexdigm. The webinar is part of Nexdigms series – ‘Diversify to Differentiate – Think India, Think Next!’
About Nexdigm
Nexdigm is a global business advisory organization serving clients from more than 50 countries leveraging its capabilities to help organizations set up GCCs, manage and optimize existing GCCs, or provide outsourced services for their clients.
For more information, please visit www.nexdigm.com
Press Release Service by Newswire.com
Original Source: GCCs Based in India Can Provide Cost Savings of Up to 45% Over 3 to 5 Years, as per Nexdigm
More News
Who Is Howard Buffett, the New Berkshire Hathaway Chairman?
Mr. Buffett, 71, is succeeding his father, Warren, but will not be running the company’s day-to-day operations.
Uber to Pay $40 Million to Parents of Woman Fatally Hit by Car
Emily Normandin-Parker, 23, was struck and killed on a California freeway after an Uber driver ordered her and a friend out of his car in August 2023.
S.E.C. Seeks to End Shareholder Proposals Process Commonly Used by Activists
Activists have often used the rule to push for changes in companies’ governance and environmental and social policies.
'We simply don't know' - JP Morgan struggling to forecast oil prices due to Trump's war with Iran
The bank said it "assumed" there would be economic red lines, like oil at $100 a barrel, that the US would be unwilling the cross.
Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins'
Since taking control in 1965, Buffett grew a struggling textile mill into a global conglomerate.
Ryanair boss Michael O'Leary apologises over 'high-fare rapists' remarks
O'Leary described his choice of language as "careless" and said "it won't happen again".
What Set Off the Rise in Interest Rates? Mainly, the Iran War.
The Federal Reserve is trying to catch up with the leap in bond rates as the Middle East conflict unnerves world markets.
The A.I. Industry’s New Worry: ‘Liability Exposure’
The prospect of artificial intelligence tools being used to do significant harm presents the companies and their leaders with a legal challenge.
Disney Hires Its First CTO Amid Industry Push to Embrace A.I.
Karandeep Anand, an expert in building artificial intelligence and consumer technology products, will become Disney’s first chief technology officer.
Use of GLP-1s Like Ozempic Is Forcing Food Companies to Adapt
People on medications for weight loss are buying less food, shrinking their portion sizes and purchasing smaller clothes. Businesses are trying to adjust.
Flight chaos caused by 'millisecond' software defect, report says
The failure led to more than 2,000 flights being cancelled and hundreds of thousands of passengers affected.
Kremlin Moves to Seize Control of Nestlé’s Russia Operations
The Swiss maker of KitKats and Nescafé said it was assessing the situation after the Kremlin issued a presidential decree.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.